Local Turkish wire rod prices stable

In the past week, local Turkish wire rod prices have remained unchanged amid slow trading activity and the lack of financial clarity in the country. Most Turkish mills are offering mainly for September delivery, while a limited tonnage is available for delivery from stocks depending on the size and quality.

One Iskenderun-based mill has kept its official wire rod price at $700/mt ex-works over the same period. Another mill in the Iskenderun region is not in a rush to issue its wire rod price due to its maintenance works in September. Sources report trading activity is slow ahead of the Turkish Central Bank’s interest rate decision due tomorrow and the relatively pessimistic mood in the import scrap segment in the last couple of days.

The above prices, which are on actual weight basis, exclude 18 percent VAT and are on ex-works basis. The offers may differ depending on buyers and order sizes.